Toronto’s main market fell on Tuesday as falling gold prices weighed on the materials and metals and mining sectors, while worries about the risk of contagion from Cyprus in Europe continued.

On the corporate front, BlackBerry (NASDAQ:BBRY) (TSE:BB) shares rose more than 1% after two previous straight days of losses following the U.S. launch of its Z10 smartphone, as Bernstein Research forecast a strong earnings report for the Waterloo-based company due Thursday after market close.

Cascades (TSE:CAS) rose 1.8% after the company said that Alain Lemaire will step down from his position as president and CEO, with COO Mario Plourde to take the helm. The transfer will take place on May 9, following a two-year transition period.

Imax (TSE:IMX) said Tuesday that Cinema 21, Indonesia’s largest exhibitor, announced a deal to install eight Imax theatres throughout Indonesia. Cinema 21 currently has an Imax theatre open in Gandaria City, South Jakarta, and another slated to open in Kelapa Gading, North Jakarta.

“Today’s agreement marks an important step in expanding our presence in the Indonesian market – the most populous country in Southeast Asia, with one of the more robust economies in the region,” the company said in its statement Tuesday, citing CEO Richard L. Gelfond.

In metals and mining, Argonaut Gold Inc. (TSE:AR) on Tuesday posted fourth quarter earnings that well topped analyst expectations as the company saw a rise in production and sold more gold ounces at a higher price, with lower cash costs. Shares of the company rose 0.6% in an otherwise down day for the gold market due to the lower price of the yellow metal.

AuRico Gold (TSE:AUQ) (NYSE:AUQ) was leading the decliners in materials, down almost 6%, after the company reported late Monday a net loss of $134.4 million on account of a $127 million non-cash goodwill charge related to its El Chanate mine, despite revenue increasing sharply.

Elsewhere, EMED Mining (LON:EMED) (TSE:EMD) said today it is making every effort to get the permissions required to start construction of its Rio Tinto copper mine in Spain. EMED has completed its reply to the responses from other parties to the environmental plan (AAU) it submitted last October.

Curis Resources (TSE:CUV) said Tuesday it will file its technical report for its Florence copper project in central Arizona later this week, and provided today two other operating and capital cost scenarios using different copper recovery rates to the ones used in the prefeasibility study released last month.

Today, the company provided further development case scenarios for the Florence copper project, using 63 percent and 75 percent copper recoveries, saying “positive economics” were indicated in both cases.

Century Iron Mines (TSE:FER) has taken another step toward de-risking one of its iron ore assets in Canada by releasing a preliminary economic assessment report for its Joyce Lake direct shipping ore (DSO) project, just days after announcing a similar report for its Duncan Lake property.

The latest NI 43-101 compliant report, based on 100 percent ownership, shows a pre-tax net present value of $94.5 million at an 8 percent discount rate for Joyce Lake, which is located in the province of Newfoundland and Labrador, near Schefferville, Quebec.

The internal rate of return was pegged at 35 percent pre-tax, with initial project capex estimated at $96.6 million including contingency, and a projected payback period of just under three years from production start-up.

In energy news, Ithaca Energy Inc. (TSE:IAE), a North Sea oil producer, said its profit after tax more than tripled in the fourth quarter and projected net export production to grow in the first quarter. Profit after tax in the quarter that ended Dec. 31 increased to $45.3 million, or 17 cents per diluted share, from $13.3 million, or 5 cents per diluted share, in the year-earlier period, the Calgary-based company said in a statement on Tuesday.

This surpassed the average estimate of three analysts who expected a profit of 5 cents per share.

Moving to junior markets in Canada on Tuesday, New Zealand Energy Corp. (NZEC) (CVE:NZ) announced that it has received approval from New Zealand’s Overseas Investment Office to obtain the Waihapa Production Station site, putting it one step closer to completing its acquisition of assets from Origin Energy (ASX:ORG).

The acquisition from Origin includes the Waihapa Production Station and associated gathering and sales infrastructure, as well as four petroleum licenses in the main Taranaki Basin production fairway. The Waihapa Production Station is located on a portion of a 49-hectare site and surrounded by additional acreage.

International Northair Mines (CVE:INM) provided Tuesday an update of its exploration program underway at its La Cigarra silver project in north central Mexico, saying it is now prioritizing target areas for a drilling campaign this year to expand the known resource.

Celeste Mining Corp. (CVE:C) says it has hired Max Missiouk as an interim CFO, bringing him on board at what the company calls a “crucial point” of its development. Missiouk has served as a controller and as an accounting manager for several public and private companies over the past years.